There has been an intense interest around the world to know what Metaverse is all about ever since Mark Zuckerberg announced that Facebook would be rebranding to Meta, signaling the company’s focus on Metaverse. In simple terms, Metaverse is a Blockchain based virtual and digital world.
Interestingly, Metaverse has been around for some time even before Mark Zuckerberg made the announcement. The adoption of Metaverse by Mark Zuckerberg only gave it mainstream recognition. The origin of the word Metaverse could be traced to a 1992 Sci-Fi novel titled cyberpunk. The novel debuted the word “Metaverse”. Many readers didn’t pay attention to it as they thought it was only a Sci-Fi novel concept.
Little did people know that it would be the next big thing that would hit the world in some years’ time.
Just as the introduction of the internet in the 1990s was a game changer for humanity, Metaverse would no doubt revolutionize our world. Already, we have seen some of the promising potentials of this concept. as it has been adopted in video games.
But this concept isn’t even close to the full potential of the Metaverse, it is very limited in its scope. Future Metaverse concept would be focused on proffering technological solutions to issues limiting augmented reality and virtual reality devices.
Currently, we have barely scratched the surface of this concept, as a lot of features would be rolled out in the years to come. The persistence of Covid-19 would most likely accelerate the adoption of Metaverse. But what will Metaverse offer the future?
1. Metaverse might be a future of tourism.
The world is still struggling with the impact of covid-19 restrictions which also caused countries to implement travel bans against one another in a bid to curtail the spread of the virus. In some quarters, it has been estimated that the impact of travel restrictions on the tourism sector could be up to $2 trillion in losses. Bearing in mind the ravaging spread of the Omicron variant of Coronavirus. One thing is sure, no one knows how long this scourge will persist. Nevertheless, the tourism sector stands to gain a lot from Metaverse in the future. Metaverse would provide a near experience for tourists should the coronavirus pandemic linger on.
Even without the coronavirus pandemic, humans are evolving. Metaverse could add so much to the tourism sector by providing what they call “Try before you buy” It is a concept that allows tourists to have a taste of where they want to travel virtually using Metaverse. So in the future, we could see tourists explore their destinations first before physical travels.
2. Metaverse will complement Blockchain tech applications.
We can’t separate the modern-day Metaverse application from Blockchain technology. Cryptocurrencies, tokenization NFTs games Defi and the likes require a high degree of Internet-based engagement and cooperation.
Metaverse would be so important in the success of Blockchain by either complementing or supplementing its application. Cryptocurrency is increasingly becoming part of our finances as it has gained mainstream recognition and adoption. We have quite a number of them, Bitcoin, Ethereum NFTs, and the likes. With the introduction of NFTs utilizing technology in Blockchain, we are seeing a pattern of Internet-based gaming that is about playing to earn. In this new trend, Metaverse would offer a much more immersive experience creating a shared digitized virtual space that would make such an experience a huge success.
3. It might change the face of the educational sector.
Metaverse would be so important for the future of education. The year 2020 saw the world grapple with the coronavirus infection which ultimately necessitated Covid restrictions and lockdown mandates. The effect of the shutdown caused schools all around the world to be shut.
As a result of the restrictions and lockdown, schools had to operate remotely and improvise with Internet-based communications such as Zoom and Google meet, nevertheless, there were still some limitations to the experience of students and teachers all around the world. And this is where we would expect Metaverse to change the narrative.
Metaverse leveraging on virtual reality and Augmented reality will no doubt bring students and teachers together through the creation of digital space that would offer almost real class interaction. Metaverse will create a digital space that would mimic the real environment. You can begin to imagine what that will be like. It would eradicate the need for physical class. Students can expect to take exams at a location they are absent physically but connected virtually.
How about international students?? They would no doubt benefit from such a concept. As there won’t be a need to travel to get educated.
4. Metaverse will offer a better gaming experience.
The gaming industry has seen some drastic surge in demand since 2020. Many analysts have attributed this to the lockdown policy of 2020 which saw many people live in isolation. In a bid to overcome boredom, many got hooked with video games. But the increased demand for games has necessitated the need for a better gaming experience which can only be made possible by Metaverse.
Metaverse would no doubt provide a better gaming experience with the virtual and augmented reality concept. Already we have seen some limited adoption in video games. We have seen it in training, and competition through virtual reality sports.
Like we said, we have seen some forms of adoption. But what we have seen thus far cannot be compared to what we will see in the future as we advance more with Metaverse.
5. Metaverse will improving the standard of health care.
One of the sectors that would no doubt benefit from the advancement of Metaverse would be the health sector. The fact is medical sciences have advanced thanks to technology. But Metaverse could yet improve healthcare by helping to break the current barriers to patient care which would, in turn, increase the standard of healthcare delivery.
Thanks to Metaverse, medical doctors are now well equipped to effectively diagnose medical conditions much earlier through the expansion of visibility in various biological processes in the body using virtual reality gadgets. The summary is Metaverse would allow healthcare leverage on Virtual Reality, Augmented Reality ad Artificial intelligence to improve the standard of healthcare
6. Revolution of the social media with Web 3.0
Metaverse would usher in the next-gen social media experience which would allow people to connect directly with others in virtual space. It looks like what you have seen in Sci-Fi movies but hey, this is becoming real. This is what Zuckerberg is hoping to pioneer. What we currently have as social media is limiting compared to what we would see later. Platforms such as Zoom Twitter and the likes are limited because of the screen interface. But the Metaverse era would usher an era of liberty in digital space by providing a more immersive experience in digital space.
7. Better working space experience for the future.
The future of work could be remote. Since the coronavirus pandemic struck the world, remote work has become a norm. Even Corporations like Google, Apple and others are seriously contemplating remote work for their employees. In the US currently, about 34% of the workforce are freelancers mostly working remotely. The year 2020 saw an increased demand for that. But the present platforms we have currently are very limited. We have seen Zoom, Trello and the likes spring up to make remote work much easier. But these platforms are not anything near the office kind of experience. They only offer screen-to-screen conversation. But Metaverse would completely change that by providing a much more immersive 3-dimensional virtual reality and Augmented reality experience. It will use Web 3.0. This kind of platform would bring about a better working experience that mimics or looks almost like a normal business environment.
8. Usher in the era of virtual economy.
You might be wondering what virtual economy means. But it is a no-brainer. It is simply an economy operating in virtual space
There is so much to look forward to in Metaverse. Metaverse would no doubt usher in an era of virtual economy. Already, we have seen some forms of this virtual economy in games like MMORPGs. But in the future, we would have a better and more advanced form.
For now, the purpose of the virtual economy has been limited to gaming, but you see in the years to come we might see virtual economy substitute for the real-world economy. Moving it from entertainment and recreation use to real business. Already covid-19 pandemic has opened the world to a possibility of shutdown which the world economy would want to avoid.
Should there be another pandemic, Metaverse could easily substitute real-world experience.
Virtual economy and new jobs
Metaverse would no doubt change our world. Particularly with the introduction of new jobs as demands for Metaverse increase. The same way Blockchain/cryptocurrency has successfully carved out a new niche, Metaverse would also do just the same. Jobs like Metaverse planner, Ecosystem Developer, Metaverse Safety Manager, Metaverse hardware builder and many others would be jobs for the future. Metaverse promises something unique and outstanding, and it would be interesting to see how things play out in the years to come.
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